Allan Lundmark, director of communications for the industry body for housebuilders, Homes for Scotland, added: "This report from Applecross shows that there is continued confidence at the upper end of the market."

Applecross reported a 74 per cent increase in profits to £7.134m on a turnover of £47.015m in the year end to April 2007.

The company won Housebuilder of the Year at the recent Scottish Home Awards.